Social technologies allow interactive personal communication with company stakeholders. Research on the adaptation of social media for branding and marketing communication is still in its early stages, as well as the development of implementing concepts and guidelines. The paper explores potentials and risks of adapting social media strategies for multi-media branding and marketing communication. Based on the analysis of changes in media usage it derives strategies how companies can integrate social media into their branding and marketing communication strategies. After thoroughly discussing opportunities and risks of different strategies, the paper closes with an outlook on upcoming trends.